News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service email:shxtb@163.com
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

Krakatoa Resources increases rare earth prospective ground at Mt Clere, raises $385,000 in completed

The date of: 2019-07-16
viewed: 2

source:Proactive Investors UK

The company increased its landholding at the Mt Clere Rare Earth Project from 403 to 556 square kilometres.

Krakatoa Resources Ltd (ASX:KTA) has made a new exploration licence application immediately next to its Mt Clere Rare Earth Project in Western Australia.

The new tenement application secures a total of 556 square kilometres over prospective drainages in WA’s Gascoyne region, increasing the company’s holding by a further 153 square kilometres.

Raised capital to go towards exploration activities

A share placement announced in June has also been completed, issuing a total of 17.5 million ordinary shares at a price of 2.2 cents and raising $385,000.

Funding from the placement will go towards exploration activities on Krakatoa’s existing projects, with a focus on the recently acquired Mt Clere project.

The company will also use capital to evaluate further acquisition opportunities and for general working capital.

Multiple rare earth and thorium targets at Mt Clere

Mt Clere contains multiple rare earth element (REE) and thorium targets in enriched monazite sands.

It also contains REE ion adsorption on clays within the widely preserved deeply weathered lateritic profiles and REE occurring in plausible carbonatites associated with alkaline magmatism.

The new application lies downstream of known enriched concentrations of monazite, a rare earth phosphate that accumulates in drainage systems because of its high density.

A source for the monazite is yet to be identified but the mineral is ubiquitous in granitic and many metamorphic rocks and is a primary and hydrothermal mineral in carbonatite.

Next steps

Before grant of the new exploration licence, the company will complete:

Compilation of legacy data and reprocessing the existing geophysical datasets using modern approaches and enhancements;

Review the potential for other REE mineralisation styles including ion-adsorption clay drill target generation and REE-carbonatite;

Ground search for and sampling of alkaline ultramafic outcrops; and

Non-ground disturbing activities including the collection of monazite samples to determine the relative rare earth and thorium contents within monazite grains.


Hot News / Related to recommend
  • 2022 - 05 - 27
    Click on the number of times: 1
    source:scienceAbstractThe study of subtle effects on transport in semiconductors requires high-quality epitaxial structures with low defect density. Using hybrid molecular beam epitaxy (MBE), SrTiO3 f...
  • 2022 - 05 - 26
    Click on the number of times: 1
    source:news.yaleScientists have found a new, nanoscale link between superconductivity — the flow of electric current without a loss of energy — and a phenomenon known as charge density waves.The disco...
  • 2022 - 05 - 25
    Click on the number of times: 1
    source:natureAbstractAn optimized sol–gel protocol was carried out to produce an yttrium aluminum garnet (YAG) xerogel from aluminum alkoxide and an yttrium salt on a semi-pilot scale. This xerogel wa...
  • 2022 - 05 - 24
    Click on the number of times: 0
    source:phys.orgResearchers at Northeastern have discovered a new quantum phenomenon in a specific class of materials, called antiferromagnetic insulators, that could yield new ways of powering 'sp...
  • Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.2020034223
    the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center
    犀牛云提供云计算服务